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to be here today and discuss with you cbo's outlook for the budget and economy for the next 10 years. are analyzing shows that the country continues to debate a very large economic challenges. i will discuss the economy first and then i will turn to the budget. we anticipate economic growth will remain slow this year because of the gradual improvement in underlying economic factors will be offset. the good news is that the effects of the financial and housing prices appear to be gradually fading. we expected a upswing in housing construction and increasing availability of credit will help spur a virtual cycle of income, consumer spending, and business investment over the next few years. however several policies that will help bring down the budget deficit will result in a drag in economic activity. the increase in tax rates and the cuts in federal spending scheduled to take effect next month will mean reduced spending by both households and the government. we project an inflation adjusted gdp will increase by about 1.5% in 2013. it would increase roughly 1.5 percentage point faster w
way and mild way and raise the minimum wage that it has a positive effect on the local economy. positive effects in terms of lower training costs and turnover and less lost time at work and dedicated employees, so small businesses, mid size and large businesses benefit from in, as well as local government because they don't have as many people relying on social services. so, the data doesn't back that up. in fact, it's a positive thing he when we do it in a planful fashion to raise the minimum wage. >> on this issue, just like an economist. on the one hand, on the other hand, there are studies on both sides. but jonas there is an argument that higher minimum wages reducing turnover, which lessens the costs of employers and could increase employments. >> you would never leave the job if you could get it, it's a pretty good wage. negatives and benefits. both sides of kind of right. if the minimum wage is low $2, it wouldn't disrupt the job market. if it's $50, high unemployment, but a-- there's obviously a level between there where the negatives would exceed the positives. there
raise taxes, you are going to cut that -- those people who are bringing prosperity to the economy. >> is this short -- >> it will ultimately work out if the economy can get by with the back to normal payroll tax. this could juice it back around. there's no perfect plan the government can do, but it's possible this payroll tax cut could be lowered in the recession and raisedded in boom times to make up for the cut. wwn time. >> we did. happy friday, everyone. adam: i'm in for melanee stubbs. -- melissa francis. both sides red gi to let it happen, all hope is not lost. david walker, former u.s. comptroller says there's a possible fix, and he joins us to explain his plan. plus, prepare yourself for a meat shortage. forget soaring prices, the cuts could bring the beef industry to a halt. steak lovers get used to eating tofu. an expert is here to tell us why. close up for the oscars, but commercials, as you and i know them, could take a final bow. a breakthrough in the industry allows advertisers to control what you see in realtime. we could watch the same oscars, but very different co
leader but brazil is one of the most important emerging economies for the whole global economy it's one of as we call them the bricks the emerging economies that has the chance to structure how the economy is going to look going forward. when you think about the countries but obviously the united states when you think about the countries along the pacific rim of latin america they make connect more to the economy of asia. i was always struck when i would go to something called the summit of the americas which is about latin america and the caribbean and we would have these discussions and travis would take off and everybody would sort of what ever. but then almost a week or two weeks later we would go to the asia pacific economic council. there it is the pacific rim countries of chellie and the pacific rim all the way to canada and all the way out through japan and china and korea and the conversation was completely different. was about global trade and freeing trade. and i actually always thought that in that sense the country had more in common with their asian counterparts than their
that just for day-to-day living seems to me this is a bad sign. >> sure. it's a sign that the economy is still weak and that any policies that take money out of the hands of the middle class and that lee deuce their disposable income is going to have a negative impact on the economy, and it comes as an opportune time for policymakers in washington as they contemplate the sequester cuts which currently constituted hits the middle class hard, further weakens the economy. it's the wrong thing to do right now. what we should do is alternate ways. adam: alternate, i got to ask you, it's a perfect storm of bad news. about to cut, the sequester cuts in government spending, people lose jobs, less money out there. they can't cut taxes again or can they and should they? >> what we need to do right now is think about alternatives to the sequester cuts and the solution, i think, is for republicans in congress to recognize that tax breaks and other spending programs in the tax code are the equivalent of government spending program, and if they encyst on cutting government and reducing the size of
on republicans warning that our economy, jobs, lives, could be in danger, if these scheduled cuts across the board go through. but the latest numbers show if the automatic reductions take place, there will be 85 billion dollars in cuts this year. that's equal to what the government spends in nine days. even if it happens, the government is projected more than last year, so he you see, we're talking about a decrease in the increase in spending and you may be asking yourself how can we survive and live on, with just the paltry amount of spending? well, where would we look for the example? how about last year when we did it just fine? all this leading to questions about how the fallout could be so dramatic. so dire, so awful. when the total federal budget is actually increasing. chris stirewalt is our national digital news editor. how can we do it? where can we find the historical example of the surviving on a budget that's cut in this manner. oh, last year. i mean, what's the answer to that. why are the politicians, you know, chicken littling us? >> well, remember this, if there , if there
and dedication have not yet been rewarded. our economy is adding jobs -- but too many people still can't find full-time employment. corporate profits have rocketed to all-time highs -- but for more than a decade, wages and incomes have barely budged. task,our generation's then, to reignite the true engine of america's economic growth -- a rising, thriving middle class. [laughter] --[applause] it is our unfinished task to restore the basic bargain that built this country -- the idea that if you work hard and meet your responsibilities, you can get ahead, no matter where you come from, what you look like, or who you love. it is our unfinished task to make sure that this government works on behalf of the many, and not just the few, that it encourages free enterprise, rewards individual initiative, and opens the doors of opportunity to every child across this great nation. [applause] the american people don't expect government to solve every problem. they don't expect those of us in this chamber to agree on every issue. but they do expect us to put the nation's interests before party. [applause]
in the local economy by my parts. every person who works on my product is going to raise the price of my product. every hand that touches the unit that i sell, a certain percentage of the company buys this products. every time i go to a vendor to get a part, my costs will increase. my competitor build a similar part for almost a third of what i build a mine. you will take away the factory workers who manufacture my parts. this is all usa jobs. lower the price of gas. back to two bucks a gallon and you won't have to worry about the minimum wage. host: how would an economist pre-minimum wage respond to that caller? guest: you are raising the cost of that worker to that business. that worker will have more money to spend. you can make more profits. you can pass the cost to people who are buying your goods by raising prices. raising the minimum wage has an effect on the economy. the question -- if there is a chance it would raise unemployment or perhaps put a business in the red. host: michelle, tacoma, washington. caller: i just realized our state is one of the higher states with minimum w
is starting to return. >> reporter: sure, the u.s. economy may be outperforming most other developed nations. but some investment strategists see good opportunities in the weakest parts the world like europe. >> although growth is still negative, we do believe that this year will be that tipping point where growth returns positive. and things are getting progressively just a little less bad. >> reporter: he recommends buying the stocks of big european companies that get much of their revenues outside the region. >> you've got a lot of companies based in these countries which sell to the emerging markets and that growing consumer within the emerging markets. i think you're seeing a lot of >> reporter: but others have a country specific approach. wells fargo advisors has norway as a top pick. >> not only is it a country with relatively low debt and a good credit standing, but it's also a country that's the 15th largest oil exporter in the world. and we think oil prices will continue to edge higher here. >> reporter: but, remember, even if you just buy stocks of big american companies, you like
again and the word recession is back on the table. good morning, everyone. can our economy handle what's happening at the pump? good question. you've seen it every day for more than a month and they've changed the signs at the gas station and prices have gone straight up. today, triple-a says regular costs 3.74 a gallon. we're closing in on a 50 cent gain just this year. four big population states are at or very close to $4 a gallon already. all right, now shall the impact. every penny that gas goes up takes 1.2 billion dollars from consumer spending, like a tax. and it comes on top of other tax increaseses that cut everybody's paycheck and will slow a weak economy and some say brings recession that much closer. watch out. "varney & company" is about to begin. [ male announcer ] at his current pace, bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some planning and effort, hopefully bob can retire at a more approp
the sequestered because it is a wholly unnecessary will run the economy if it were to take place. >> except there were others in the president's party like former democratic national committee chairman howard dean suggesting the president should let the sequester happen to slice the pentagon's budget. telling the huffington post, i am in favor of the sequestered. it is tough on things that i care about a lot, but the fact of the matter is, you are not going to get another chance to cut the defense budget in the way that it needs to be cut. white house officials disagree. as does the outgoing defense secretary leon panetta warned such deep cuts could leave america with as second-rate military. lou: you will remember republicans were furious before the election and the white house was not complying with the warrant act which is a law that basically says employers need to warn employees about upcoming furloughs. the white house pushed back on all of that. now they are releasing those for loan notices. remember, people the 30-60 days in some cases on notices, which means these furloughs will ta
immediately afterwards. this assumption was that the economy would continue to improve or would improve. i think running and losing in 2008 was liberating for him. he found that he could be happy. we kept talking. he wanted to talk about it. we had a busy 2010 client schedule. he finally said, on election day 2010, if you cannot do anything for your client, why don't we meet? ok. we can do that. my partner and i met him. we met him in boston. that was when i got a sense that he was intending to run. >> he was serious? and he made the decision? >> yeah. >> covering the white house, he always viewed mitt romney is the face of the republican party. is that unfair? >> no. after the 2008 election, we were thinking about the future. he asked me who i thought the nominee would be in 20 20. i said, mitt romney. i knew we were heading into an economic maelstrom. i spoke earlier to a group about this opposites theory of presidential races. romney and the business background seem like the kind of person who could emerge from that. on election day, that election sort of altered my thinking. it was cle
that there is an average wage that is probably twice the national average. they have high leverage in the economy. there is going to be an unintended consequence, unfortunately, if there is not a deal made in 11 days. ashley: would you agree that defense spending needs to be reformed? it may be the wrong way to do it, but it seems to be the only way. >> the suddenness. in the past, abbott there -- in the past, there was a planned slowdown of an amount of what we are facing here. we have already taken a 12% cut for defense contractors and they are looking at another seven-12% again. ashley: how much does this compromise national security? >> well, clearly, one of the ways that will be cut in and unplanned fashion is to stop paying for discretionary things like language interpreters and servicers, as well as, maintenance and operations. that means we will not be able to deploy our forces overseas. whether it be for military purposes or expeditionary purposes for humanitarian aid. ashley: tom, quickly, they are supposed to give 60 day notices. if these cuts go into effect in 11 days, that will not h
. stuart: tell me the truth. do you think that president obama really values growth for our economy or redistribution of the wealth? >> i think he's far more in the camp of redistribution than growth. and his central campaign theme he made clear was redistributing wealth and he's done it, kept his promise. >> let me read this for you. the congressman henry waxman demands more executive orders from the president. in a letter to the white house, waxman wants the president to issue new regulations on everything from power plants to oil refineries and even household appliances. henry waxman, a member of congress, he wants the president to go around congress with his voice. >> we have the separation of powers in this country. something that's hugely important. with a waxman is recommending and i recognize just waxman represents to me a liberal, too. and i'm against conservative or moderate as liberal. but the idea of president going around congress to get things done, especially when he gets up in his state of the union and says that the sequester is not his work, but the work of congres
that massive layoffs could cripple their economies. >> we don't need to wait to see the white in the eyes before we start responding because of the potential that we see. this challenge is real and real right now. >> reporter: well, with the deadline still nine days away, there's still a lot of posturing, and there's no sign that anyone's trying to make a deal. administration tells us that there are no secret talks or negotiations under way. the reason for that, of course, the obama administration thinks it's winning this debate and republican pressure will force republicans to give in. charlie, gayle? >> thanks. >>> cbs political correspondent john dickerson. good morning, john. >> good morning, charlie. >> put this for us in terms of what we're talking about and what we're not talking about. >> it's a good point. step back here. what we're not talking about in this sequester is the actual long-term drivers of this deficit problem so as people look at the fight, which is the 900th chap tur in the con stangt fights of the budget, what's happening is the debate about dumb cuts to a portion
's economy. at dot, we will need to cut nearly a billion dollars, which will affect dozens of our programs. over $600 million of these cuts will need to come from the federal aviation administration, the agency that controls and manages our nation's skies. as a result of these cuts, the vast majority of faa's nearly 47,000 employees will be furloughed for approximately one day per pay period until the end of the fiscal year, and in some cases it could be as many as two days. today we are sharing more details with our unions and with industry so they can start planning for serious impacts of sequester. here is what these automatic cuts are going to mean for the traveling public. obviously, as always, safety is our top priority, and we will never allow the amount of air travel we can handle safely to take off and land, which means travelers should expect delays. flights to major cities like new york, chicago, and san francisco and others could experience delays of up to 90 minutes during peak hours because we have fewer controllers on staff. delays in these major airports will ripple across
this year, we're on track to take what, 60, 70 billion dollars out of the economy. question, why is this happening? former shell oil president john hofmeister, 10:45 this morning. listen to this, not only has colorado legalized recreational use of marijuana, he wants to use pot as a tourist draw, a tourist attraction, if you're over 21, feel free to smoke up. forget amsterdam, hop a flight to denver and light up a joint. we'll have more on this at the top of the hour, including how this could be a boom for lawyers. and i bet a lot of people will try to bring pot home from colorado not allowed and a defense attorney for you, all right. let's get back home, shall we? and so far, a tranquil america, we are 128 points away from the all time high this is, and up next, we will ask a trader if investors really care about spending cuts, sequester, do they care the at all. the opening bell next. [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmissi
out of business. deb? >> saving the environment and trying to rejolt the economy. all right. chris lawrence, thanks for us there in washington, d.c. appreciate it. >>> a mother flying to atlanta tries to soothe her crying child. that's when police say a fellow passenger actually slapped the boy and yelled out a racial slur. parents describe the traumatic incident just ahead. >>> mixed martial arts, a sport that's exploding in popularity in the u.s. going to tell you why. >>> also, remarkable guide dogs, trained by a woman whose hollywood pedestrian grill is very well known. we will talk live to entertainer lauren aluft, daughter of judy garland. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlar
people to make more than $9 an hour. you create a robust economy. >> bill: what is the biggest problem facing america? two new analysts scott brown and herman cain will tell us and i will weigh in on that. >> i'm a clinton person. that is the way politics is. >> bill: how does president obama stack up against president clinton? >> he needs to go into the room >> bill: here come the lawsuits against carnival cruise operation. he millions of dollars will be sought with the ship falling apart on the high seas. is it legal? >> caution you are about to enter the no-spin zone. factor begins right now. ♪ ♪ >> bill: i'm bill o'reilly, thanks for watching tonight. what is the biggest problem facing the country today? that is the subject of this evening's talking points. on paper the biggest problem is the national debt approaching $70 trillion with no end in sight and failure of pinheads to deal with the debt in washington. if the massive borrowing continues the u.s. economy could very well collapse, but in reality, no on the paper, the biggest problem the nation has is us, our mentality. i
world when you decide chopping down the government and hurting the economy is the smart move. but bring it all down is now the hard right battle cry. slash spending, short the pentagon. crew up traffic control whatever raises the noise level, bashes the democrats and lowers hope. is this the tea party dream? is this john boehner's version of feeding time at the zoo, giving the crazies what they want so they will sit in their seats and behave? is this final payment to insanity the last vestige of what calm republicanism is ready to cough up? but how else can you explain the readiness of the gop leadership to let this fraken stein's monster, it doomsday machine, this sequestration go all out berserk? how else can we understand the party of lincoln doing such economic damage to the republic, such damage and moral to the people. democrat ed rendell and republican michael steele. gentlemen, i want to start with you, michael, because i know you will disagree with me and that's what this is about. i read a lot of good reporting today, not analysis, but good reporting from your side of the aisl
misconception that he land immediately afterwards. this assumption was that the economy would continue to improve or would improve. i think running and losing in 2008 was liberating for him. he found that he could be happy. week at talking -- we kept talking. he wanted to talk about it. we had a busy 2010 client schedule shoul. he finally said, on election day 2010, if you cannot do anything for your client, why don't we meet? ok. we can do that. my partner and i met him. we met him in boston. that was when i got a sense that he was intending to run. >> he was serious? and he made the decision? >> yet. >> covering -- yeah. >> covering the white house, he always viewed mitt romney is the face of the republican party. is that unfair? >> no. after the 2008 election, we were thinking about the future. he asked me who i thought the nominee would be in 20 20. i said, mitt romney. i knew we were heading into an economic maelstrom. i spoke earlier to a group about this opposites theory of presidential races. romney and the business background seem like the kind of person who could emerge from
's economy. >> it's a green light. this may be the last chance you get. >> reporter: 25 virginia state senators did hit their green light, voted yes and followed their house counterparts in approving the measure that will pump $3.5 billion into roads, transit and rail over the next five years. >> it will enable us to contribute a lot more money to rail, improve the services to get you to rail, perhaps widen some major arteries a little bit. >> reporter: prince william county senator is the longest serving senator in virginia history. and he counts this bill as one of the most significant he's ever helped pass. >> it's very important. it's going to change people's lives. >> reporter: the transportation bill contains a complicated plan for raising new revenue. it reduces the state gas tax but hikes the state sales tax and several other fees. traffic took northern virginia and hampton roads will be able to raise more money for priority projects through a bigger sales tax hike, a hotel tax and home sales fee. some senators say two taxing levels is unfair and others fear the impact on the r
on the economy if it were to take place. >> there were others like howard dean suggesting the president should let the sequester happen. to slice the pentagon's budget. dean telling the huffington post i'm in favor of the sequester. it's tough on things i care about a lot but the fact of the matter is you are not going to get another chance to cut the defense budget in the way it needs to be cut. white house officials disagree. as an outgoing defense secretary leon panetta who warned such deep cuts could leave america with a second rate military. you will remember republicans were furious before the election that the white house did not follow the warren act that requires employers to warn employees about the potential lay-offs. since furlough notices are only going out now, defense officials say they work at the pentagon until late april. even if the sequest starts on march 1. at the white house, ed henry. fox news. >> bret: the pentagon's budget chief says the effects of the cuts will be felt nationwide. he says the biggest potential losses will be in california, texas, georgia and virginia.
misconception that he planned to run immediately afterwards. i think it's -- his assumption was that the economy continued to improve our would improve and i think running and losing in '08 was very liberating for him. and he found that he could be very happy. we kept talking around it, you know, we had a very busy, he wanted to talk about it. we had a very busy 2010 client schedule, in a very mitt romney way he said finally, well, on election day 2010, you can do anything for your clients, why don't we meet on election day 2010? i said, okay, i can do that. so my partner and i met him in boston at his condo on election day 2010. and that was a thing when i got a sense that he was really intending to run. it was serious before but i got the sense he definitely was going to run. >> david, covering the white house, i got the sense that you guys thought you were running against mitt romney. you always sort of viewed mitt romney as the face of the republican party. is that an unfair -- >> no. in fact, the president and i after the 2008 election, we were musing about the future, and he asked me who i
the sequester is not higher taxes or just better spending control. it's by creating jobs, growing the economy and expanding the tax base. >> president obama will be taking his message on the road next week to a virginia shipbuilding operation. virginia, with its massive defense industry, would be hit hard by the spending cuts. arthel. >> molly henneberg live from washington. thanks. >> as the u.s. faces its own economic problem, britain's economy is facing a serious new setback. moody's, the credit rating agency, announced the first ever downgrade of the u.k.'s pristine credit rating by a notch, blaming weak growth and political turmoil for throwing its deficit reduction plan off course. david ram con says he has full confidence in his finance minister, george osborne, despite criticism that their debt strategy is failing to deliver, britain now joining the u.s. and france in having lost its triple a rating from at least one major agency. >>> serious new concerns out of iran asment country's powerful revolutionary guard begins new military exercises, at the same time iranian scientists announ
now, a tremor will hit the american economy that is both unwelcome and unnecessary. it is an across-the-board cut in spending that, according to some estimates, will cost us 750,000 american jobs. as we will hear today, there are some estimates that that is too conservative. if one takes into account the ripple effects of the tremor, it may cost us many more jobs than that, but even by the most conservative estimates, 750,000 americans who worked in contract in firms, research companies, universities, hospitals, child care centers, schools, businesses small and large around the country, and who work for the government itself, will find themselves and their country at risk. this does not need to happen. led by my friend and colleague from whom we will hear in a little while about the specifics, we put forward a constructive, common-since alternative to avoid these 750,000 layoffs. the alternative, frankly, involves closing tax loopholes that the wealthiest among us can exploit and take advantage of, and stopping mindless subsidies to huge oil companies and agribusinesses. it makes se
change that perception. let's focus on a reality. by reality i mean economy of our political system. this election has its own economy. the economy as two components. one is an economy of stop, and the other is the economy of extortion. the economy of stop drives us to understand to point to the instability in our government. any system where the tiniest slice of the public dominates in the funding produces a system where a tiny number of americans can effectively block any change. it will always be that or at least almost always be that in the context where some much dependence exists on such a tiny number of participants. it is just a couple thousands who have to band together with these contributions to effectively make it possible that in our structure of separated powers you can block any change. this is an economy that depends on polarization. people point to polarization as the cause. it is an effect. it depends on the dysfunction, because the more dysfunctional the institution is, the easier it is to sell this opportunity to block. this function is the business model, which
, the strength of our economy, the strength of our moral example, after balance those things. this university has been educating and training people to understand that balance since its very beginning. i spoke this morning with a whole group of very talented young rotc students, many who are getting ready to graduate in commission on the three programs operating on the status. -- on this campus. the university has put 1079 people into the peace corps in its 51 year history. numerous people over the course of the university history have gone to work in the state department's. then we can go broader, teach for america, or the students who have trained over generations to get jag program degrees, military law degrees here. this university is so committed to that global role that we are supposed to play as citizens and to keeping those balances of strength and balance. there's really no one today on this stage in our country where exemplifies keeping those invalid better than our speaker. we're so glad to welcome here to the ground and to the commonwealth. please give a warm welcome to secretary john
put thousands of dollars per month in the local economy by my --buying my parts. every person who works on my product is going to raise the price of my product. every hand that touches the unit that i sell, a certain percentage of the company buys --country buys this product. every time i go to a vendor to get a part, my costs will increase. my competitor works in china. my competitor build a similar part for almost a third of what i am an american. you will take away the factory workers who manufacture my parts. this is all usa jobs. last point. instead of raising the minimum wage, lower the price of gas. back to two bucks a gallon and you won't have to worry about the minimum wage. i appreciate the opportunity. thank you so much. host: how would an economist pre-minimum wage respond to that caller? guest: you are raising the cost of that worker to that business. on the other hand, that worker will have more money to spend. as a business owner, you can make more profits. you can pass the cost to people who are buying your goods by raising prices. i think that is a little bit of
that will spur a new american economy that is focused again on making and innovating and growing and manufacturing and exporting. the long-term security and absolutely dependent on managing these risks we have identified today. it is that important for this country. you all can help. one man who understands this better than most is tom daschle. i can say a lot of things about tom daschle. i can talk about his military career in the air force. i can talk about his service in the house of representatives and his extraordinary leadership in the senate. the only person to serve as a majority and minority leader. i have said a lot about this man in terms of what his counterparts thought of him. i prefer to talk about tom daschle the father and grandfather. i think you can tell the measure of a man or a woman by the children. tom has got three great kids. i had the pleasure of knowing all of them. his daughter is an award- winning journalist. his son nathan is a social entrepreneur. his daughter lindsay, my favorite -- he cannot say that -- works at usda. she did an extraordinary job o
evening to you. $3.99 at this gas station right here. the timing is not good for this. the economy is fragile, and all the money that is going into gas tanks, it would and could be going into instead groceries, maybe a movie out, maybe a dinner out. at gas stations across the country, customers are asking the same question. what could possibly send gas prices up 43 cents in a month? that's an extra $8.60 on a 20-gallon car. in chicago, more than that, up 70 cents in a month to 4.$4.22 gallon. for taxi driver ray hubert, that's real money. >> it digs into my pocket. i pay for my own gas, nobody else pays for it. >> reporter: in los angeles, up 50 cents in a month to $4.28, some stations charging more than $5 a gallon. >> it doesn't make sense. we went to vegas last weekend and the prices were like $1.50 less. >> reporter: were portland to portland, gas prices have risen every day for the last month. >> the rising gasoline prices is extraordinary for this time of year. we usually see this happen as we go into the summer driving season. >> reporter: what's going on? analysts say the r
that says great. let's have sequestration. let's cut $85 billion out of the economy. let's remove hope from the country. i doubt that you read that it said take hope out of the country and ruin the economy. but i get your point. what i find interesting in your argument, chris, is that you seem to overlook the fact that you have just as many democrats out there screaming the same thing on the left. starti ining howard deem. also, the whole idea of sequestration emanated -- >> what office does howard dean own? >> i'm just saying. you're pointing and say ing say >> it pushes both of these folks -- >> i'm sosh ri. i just want to check your facts. what democrats holding office in the congress want to see sequestration. >> the ones who voted for it. starting with them. you mean this whole thing got passed just on republican votes? >> it was called kicking the can -- >> are you kidding? >> i'm going to ask you again, do you believe right now there are any democrats in the house or senate who want to see sequestration? >> yes. >> name one. >> there have been folks on the record, chris. i can't name
which have hurt the iranian economy, but not the nuclear ambition. this comes as tehran has announced it's discovered a new large uranium deposit that would help the nuclear program. if it is true and tough to prove or to believe exactly what tehran says, it would triple the size of iran's known nuclear uranium deposits. diplomats are trying to work on controlling their nuclear program. they are supposed to meet with iranian leaders, diplomats from the united states, france and germany but no one has optimism that anything is going to change between tehran and the rest of the world because neither side is offering anything new. >> heather: thank you coner. >> kelly: three weekends in a row now. northeast is getting slammed with wintery weather. forecasters predicting a foot of snow in some areas. maria molina is live in the weather center, and punxsutawney phil said we would only have six weeks left but it's coming with a fury. >> he is only right about 30% of the time but we want to talk about the winter storm. you mentioned about a foot of snow possible especially in southern new engla
the u.s. economy will grow slowly this year as tax increases and spending cuts offset improvements in the private sector. bruce willis is "a good day to die hard" pulled in $25 million. "identity thief" rant and with a close second, 23.4 million. that is the latest from the fox business network. giving you the power to prosper. ♪ customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. ♪ dagen: $101.7 billion over the next ten years. the joint committee think this is the cost of a massive new sales tax to pay for obamacare. elizabeth macdonald is here with the bottom line. explain how this is, ultimately, being passed on. >> it is an excise tax or sales tax. look at this number. $7200. health insurers will pass this on. look at this. joint committee and taxation think that health insurers will pass this on. expect it to hit the insurance, basically, consumer in the form of higher premiums. they estimate 2.5% greater cost. we have two congressmen looking
, but the most immediate priority i think is the economy. they're still struggling to keep a job or find a job. i think that is his top priority far and away, but he'll have to pursue other things at the same time. the good news is that is happening and i think it's happening successfully. we see is the congress coming together on immigration like it never has in my memory. we also see great progress i think on the gun issue with mushrooming of support for universal background checks. the good news is we'll be able to tackle many issues at the same time, but the president does have to prioritize the economy and that's what he's been doing. >> joe biden has been his point man. he'll be in connecticut today, pushing some gun legislation, but realistically, looking at the way congress has been and the dearth of pleasurements they've had in any significant way, do you really think that they can deal with with the sequester and gun control legislation passed as well at the same time? >> well, it's a heavy challenge. just the sequester, frankly, is the biggest because the gop is not of one mind but i t
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